The company, through its Florida Power & Light Co. unit,
sold the 3.8 percent securities to yield 92 basis points more
than similar-maturity Treasuries, according to data compiled by
Bloomberg. Proceeds will be used to pay existing debt and for
general corporate purposes, according to a person familiar with
the transaction.

The Florida subsidiary previously sold debt in May, issuing
$600 million of 4.05 percent, 30-year debentures at a relative
yield of 100 basis points, Bloomberg data show. The bonds traded
at 106.6 cents on the dollar to yield 3.68 percent, a spread of
88.7 basis points, on Nov. 29, according to Trace, the bond-price reporting system of the Financial Industry Regulatory
Authority.

The new bonds may be rated Aa3 by Moody’s Investors
Service, according to the person, who asked not to be identified
citing lack of authorization to speak publicly.

Long maturity debt from Public Service Enterprise Group
Inc., the Newark, New Jersey-based utility that had 1.7 million
customers without power during Hurricane Sandy, had an average
spread of 147 basis points on Dec. 14, according to the Bank of
America Merrill Lynch 15+ Year US Utility index. The company has
a BBB+ senior unsecured debt rating from Fitch Ratings,
Bloomberg data show.